“The Importance and Awesome Power of Project Management in Today’s Business Environment”
By: J. Glenn Ebersole, Jr., Founder & Chief Executive of J. G. Ebersole Associates and The Renaissance Group ™
Why is project management important and what awesome power exists with project management in today’s business environment? The first reasons that come to my mind about why project management is important (based upon more than 35 years of my personal project management experience), are tighter budgets, diminishing resources, more and more time constraints, and competition to improve the ways we do business. The awesome power of project management makes it possible to focus on priorities, track and measure performance, overcome challenges and problems, become flexible enough to adapt to change and achieve higher performance and a higher probability of success in each project.
What do we mean by a project? A project can be defined as an endeavor with a clear start and finish, a set of defined goals and objectives and a sequence of activities. Some examples of projects include constructing a new facility, developing a new product or service, restructuring your business organization, planning a special event, developing a strategic plan, planning a move, rearranging the office floor plan, etc.
Project management is applicable to many industries and organizations. Some key industries that use project management include: telecommunication, construction, information technology, software development, banking, manufacturing, professional engineering and architecture, computers, etc.
What do we mean by project management? Project management is a discipline and a process. It is a set of tools and techniques that define a project’s goals, plan all work to reach the goal, lead the project and support teams, monitor progress and optimize the use of resources (time, people, money, etc.) in order to reach and exceed the customer’s expectations from that project.
What is special about project managers? Project managers need to be very skilled in the management of communications, human resources, procurement, quality, time, cost, documentation, systems integration, etc.
Project management is very important in today’s business environment when one considers the consequences of the absence of good project management or when project management is poorly applied to projects. Here are some of the consequences that can be experienced with the lack of or poor project management: missed deadlines, cost overruns, poor workmanship, conflicts among team members, redoing work to correct errors, unclear directions for the project, continuous changes in project scope, forgotten key tasks, poor morale of team, duplication of effort, etc. Because of these potential consequences, project management is critical to a project’s success. Effective project management will help: meet or exceed customer expectations, maximize the use of your resources (time, people, money, space, etc.), bring the project to a successful conclusion on time and within budget, document what was done for any need of future reference, and build confidence in your team for future projects.
Would you like to increase the probability of success for your next project? Would you benefit by learning more about project management and how it can be applied to your projects? Would you like to increase your value to your business or organization by becoming proficient in project management? If you answered YES to any of these questions, please contact me today through my website at www.renaissanceman4u.com
or by email at jgecoach@aol.com
“The Importance and Awesome Power of Project Management in Today’s Business Environment” - To learn more about this author, visit Glenn Ebersole's Website.
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